A 51-year-old man has been charged with aggravated assault after a stabbing in the Corydon area on Friday afternoon, say police.

Officers were called to a suite in the 1000 block of Corydon Avenue at around 3 p.m. on Friday.

Investigators say the 40-year-old victim and the suspect began arguing in the suite and things escalated. The suspect then armed himself with a knife and stabbed the victim several times.

The victim was taken to hospital in critical condition with several wounds to his upper and lower body. Police say he has since been upgraded to stable condition.

Police say the suspect was found within the building in a different suite. The man remains in custody.